House Prices: Demand Changes, Not Tax Waiver, Pushed Prices Up

The current house prices boom was not caused by the stamp duty holiday, a new report has argued. The Resolution Foundation says prices will keep rising because of pandemic-related factors like low interest rates and changing home preferences. In fact, the think tank says the tax holiday was "wasteful" and HMRC lost out on about £4.4bn of taxes in England and Northern Ireland as a result. The Treasury said the policy saved jobs by stimulating the housing market. Between June 2020 and June 2021, the average value of a UK home increased 13.2%. Read more on the BBC website.

https://www.bbc.co.uk/news/business-58274811